Altera Rising: Trims Revenue Outlook as Older Products Fade

By Tiernan Ray

Shares of programmable logic device (PLD) chip maker Altera (ALTR) are up a penny after the company this afternoon projected revenue this quarter to fall at the low end of its previously forecast range of down 6% to 10% from last quarter, now projecting now a range of down 8% to 10%.

Analysts have been projecting revenue to fall quarter over quarter by roughly 8%, to $456 million.

Altera characterized the quarter as a shift between older and newer product, stating “Sales of the company’s new products are expected to grow sequentially but that growth will be more than offset by lower sales of the company’s older products.”

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Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.